The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1887-08-20
A REMARKABLE YOUNG MAN.
How Printers "Devil" Piled up For
tune-Failing for $40, 100000
After a Short Career.

A few days ago Henry S. Ives, of the firm of
Henry S. Ives Co., brokers, New York, made
an assignment, his liabilities being varousy esti-
mated at from $1O,OOO,O 900 to 500, 100000. He
claims that he has not failed and that the arrange
ments he has made with powerful syndicate will
leave him from $4,000 900 to S. 900, 900 to do with
as he pleases. Commenting on this failure the
Baltimore Sun says:
"It is not every young man of twenty seven
that can fail for S2O,OOOO 900, "wth assets of S21,-
100000" after buying the Baltimore and Ohio
Railroad and turning Wall street green with envy
of his constituencies smartness and suavity. Ives
was born, it is said, at Litchfed, Conn.,, from
lived In brooklyn, whore Ferdinand Ward and
other bright lights of New York have resided
His first appearance in New York was as an ap-
prentice in the printing office of publisher Here
he received four dollars week, and acquired
much useful knowledge. After all his feats his
chief boast STILL it is said, is that he "knows how
to make book" While still youth he ventured
into Wall street, first messenger boy then as
a curbstone broker. He one day astonished his
acquaintance by painting his name call over the
front of building where he hired one ROOM" For
awhile he did business as commission broker
having many partners. His fertility of invention
amazed his successive associates. They could not
keep up Will ulm III tne pursuit Oh new devices
for getting on. Several years ago he suddenly
emerged from obscurity by feat that attracted
universal attention. This in buying Mutual
Union Telegraph stock when there was none and
thus getting number of brokers irretrieyably,
"short." Certain brokers in the Exchange, on
tho strength of orders from somebody in Newark
offered some of the stock in ignorance that it had
been Cancelled and that there was none to deliver
Henry S. Ives was the buyer at high figures. He
BALLAD for a fu1flment of contracts and would
probably have cleared nice little by the
transaction but for investigation by the govern
ors of the Stock Exchange, which developed the
fact that the Newark man was a myth, snd that
the orders to sell, delivered by Newark express
man, really emanated from Ives. The Mutual
Union contracts were thereupon declared "of,"
and Mr.. Ives reapsed into obscurity under load
of epithets showered on him by the shorts. Not
long after, however, he reappeared the buyer of
a railroad out West. Then he bought other rail-
roads, and became vice president of the c., H. and
D. system. This gave him influence in the ex-
change. His partner became member of that
fastidous body, and all was we'll again. But the
purchase in March last of an option of majority
of the stock of the Baltimore and Ohio Railroad,
and the subsequent negotiations for the purchase
of that vast property, amazed everybody. The
audacity of the operation undertaken by smooth
faced youth of 27 summers fairly took the breath
of Wall street. He paid $25O,00O, it SEEMS for his
option, and $1,S09,O00 in Cincinnati, Hamilton
and Dayton stock in fulllment of his contract for
the purchase, but failing to sell the Baltimore and
Ohio telegraph system to Jay Gould, he was una.
BILE to make the subsequent payment in the time
specified. So the whole scheme collapsed, and Mr..
Garrett sailed to Europe declaring the deal off.
Mr.. Ives loses certainly his $3.50, 000 whether Mr..
Garrett, or he, or the c., II. and D. Company is
to have the 81 $780, 600 of stock in Mr.. CARROTS
name the courts have yet to decide. There has
been talk of Sing Sing in connection with Mr..
Ives's management of the finances of the Cincin-
natl, Hamilton and Dayton Company, but such
talk at present is premature, the view being cur
rent in Now York that wrecking railroad is
trifing ofense."